The Politics of Financial Market Discipline in Latin America

To what extent are the actions of Latin America’s Leftist governments constrained by international market forces? In her talk, Campello will show that the disciplining effects of global markets have varied widely over time and across countries. Examining variations in the effectiveness of market discipline in “good” and “bad” times, she will explain both Leftist moves towards economic orthodoxy in the 1990s and the resurgence of Leftist governments in the 2000s. Crucially, Campello will also illuminate the prospects for the Latin American Left after the end of the recent commodity boom.

Daniela Campello is Professor at FGV/EBAPE, a school of business and public policy in Rio de Janeiro, Brazil, and the author of The Politics of Market Discipline in Latin America (2015).